Renault pursues stake in Nissan

RENAULT, France's second-biggest car maker, yesterday confirmed that it is considering taking an equity stake in Nissan Motor Company, Japan's second-ranked car manufacturer. The move is part of Renault's plan to expand its sales in the Asian region from 0.3 per cent of its total sales to 10 per cent.

"We have stated on several occasions that our growth strategy involves a greater presence in Asia," Renault said. "We are looking at different ways of implementing that strategy and in that respect we are talking to a number of potential partners, including Nissan."